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Bitcoin Is Up 6.5 Billion Percent Since It Was First Priced In USD

Twelve years in the past right now, pseudonymous Bitcoin consumer NewLibertyStandard published what is doubtless the primary pricing of Bitcoin in US Dollar phrases.

On his web site of the identical identify, NewLibertyStandard went on to describe how they formulated their 2009 change price:

“During 2009 my exchange rate was calculated by dividing $1.00 by the average amount of electricity required to run a computer with high CPU for a year, 1331.5 kWh, multiplied by the the average residential cost of electricity in the United States for the previous year, $0.1136, divided by 12 months divided by the number of bitcoins generated by my computer over the past 30 days.”

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